Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Silver Miners’ Q3’17 Fundamentals
By: Adam Hamilton, CPA

Deflation must be embraced
By: Alasdair Macleod

Gold’s 47-Year Bull Market
By: Steven Saville

The Precious Metals Bears' Fear of Fridays
By: Dimitri Speck

The Lemmings are Heading Towards the Cliff...Again
By: Gary Savage

28 Reasons to Buy Physical Gold
By: BullionStar

Is This Gold Rally The Start Of Something Big?
By: Avi Gilburt

GoldSeek Radio Nugget: Peter Grandich and Chris Waltzek
By: radio.GoldSeek.com

GoldSeek Radio Nugget: Andy Schectman and Chris Waltzek
By: radio.GoldSeek.com

Keeping Your Cryptos Safe From Crooks
By: Avi Gilburt with Ryan Wilday

 
Search

GoldSeek Web

 
Pretty Palladium


 -- Published: Sunday, 9 March 2014 | Print  | Disqus 

By Warren Bevan

A choppy week in the end for markets with leading stocks really not doing much for the most part which has me thinking we do need some consolidation at these levels here.

          That said, every dip has been relatively short-lived and bought heavily for well over a year so I’ll be watching closely for a quick turnaround.

          While the leading stocks weren’t doing much, the good news is many smaller, very cheap stocks are moving huge and are very trade-able, especially on an intraday basis.

          There is almost always a place to make money; it’s just a matter of finding it at the right time.

          As for gold, is had a choppy week as well and is resting and consolidating nicely here but it could see some limited downside in the coming week before it makes its next move higher.

          Let’s take a look at the pretty gold chart.

 

          Gold closed the week up 0.72% and looks great for higher prices in the not too distant future.

          Gold has a really nice saucer bottom here.  It’s very similar to a powerful cup and handle pattern but it’s not.

          I got quite a few question about this this week.

          Cup and handles are very powerful continuation patterns.  This saucer is a bottoming pattern.

          That said, we are building the handle or right side of this saucer perfectly here.

          We can chop here between $1,320 and $1,360 and perhaps even see a pullback to the 200 day moving average at $1,300.  A break of $1,300 would not be great and signal we need more of a correction but I don’t see that coming.

          Once we break $1,360 we should quickly move to $1,417 area.

          All in all, gold is behaving well since putting in its double bottom low on the last day of 2013.

 

          Silver lost 1.58% for the week but also looks good here.

          A great bull flag or handle is setup to breakout soon and this move above $21.50 will bring us back up to $23.

          Gold should lead this move and there are ways to play this breakout using more leveraged instruments but those aren’t for everybody.

 

Platinum rose 2.54% this past week and is moving well right on schedule.

          We could rest here another couple days but platinum looks ready for more upside here right now.

          This next move higher will bring us to $1,510 or so and the next major level after that is $1,550.

          Let’s take a look at the weekly palladium chart since it’s very pretty.

 

          Palladium rose 5.08% this past week and has a stunning weekly chart that points to a major breakout that will last years, not days or weeks.

          It’s so, so pretty now breaking this long trend-line and triangle pattern in a big way.

          Just look at the explosion of volume.

          Just a perfect breakout here so far.

          The thing about trading is you can do it using 5 minute charts, 60 minute charts, daily or even monthly charts.  Really, on any timeframe you can find patterns and buy points and each buy point coincides to the timeframe you are looking at.

          When we look at palladium on a weekly chart breakout it means a long strong move and to annul that we’d need to close back under $750 on a weekly basis, not daily.

          Gold and silver look great on longer-term chart as well.

          Also of note, but it’s pretty obvious, is that the size of the moves are also much larger on longer-term charts.

          All in all, the metals look great this weekend as they come off historic lows.

          I’m mostly into momentum and swing trading fast movers, not long-term moves like these but in time they will have super and fast moves, but not yet.

          You can find out more about what I do for members at www.wizzentrading.com

          Thank you for your time and reading.

          Have a great weekend and week ahead.

          Warren

          In my free, nearly weekly newsletter I include many links and charts which cannot always be viewed through sites which publish my work.  If you are having difficulties viewing them please sign up in the right margin for free at http://www.wizzentrading.com or send an email to warren@wizzentrading.com with “subscribe” as the subject and receive the newsletter directly in your inbox, links and all.  If you would like to subscribe and see what my portfolio consists of please see here.

If you found this information useful, or informative please pass it on to your friends or family. 

Free Service

          The free weekly newsletter “Wizzen Trading” does not purport to be a financial recommendation service, nor do we profess to be a professional advisement service.  Any action taken as a result of reading “Wizzen Trading” is solely the responsibility of the reader.  We recommend seeking professional financial advice and performing your own due diligence before acting on any information received through “Wizzen Trading”.


| Digg This Article
 -- Published: Sunday, 9 March 2014 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2017



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.